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CT HB05060

Bill

Official Source

Status

Introduced

2/11/2020

Primary Sponsor

Devin Carney

Click for details

Origin

House of Representatives

2020 General Assembly

AI Summary

  • Phases out Connecticut personal income tax on income from traditional IRAs, simplified employee pension (SEP) plans, and savings incentive match plan (SIMPLE) IRAs
  • Implements the phase-out using the same method and timeline as the existing phase-out for pension and annuity income
  • Phase-out begins in the taxable year commencing January 1, 2020
  • Referred to Committee on Finance, Revenue and Bonding

Legislative Description

An Act Phasing Out The Personal Income Tax On Certain Individual Retirement Account Income.

Last Action

Public Hearing 02/27

2/21/2020

Committee Referrals

Finance, Revenue and Bonding2/11/2020

Full Bill Text

No bill text available